Kenanga Investment Bank Bhd (Kenanga) has become the first Malaysian investment bank to join the United Nations Global Compact, demonstrating its commitment to principles of human rights, labour, environment and anti-corruption.
Kenanga joins a global network of companies committed to taking action for a better future. Launched in 2000, the UN Global Compact consists of over 12,000 companies and 3,000 non-business signatories based in over 160 countries around the world, and more than 70 local networks.
“We are proud to have been invited to be a part of the UN Global Compact. To move the needle on sustainability is a shared responsibility and requires the concerted efforts of players in every sector. As the first Malaysian investment bank participant, we hope to be able to contribute and learn in equal measure, and aim to punch above our weight to deliver impact that matters,” said Datuk Chay Wai Leong, Kenanga group managing director.
Kenanga has been accelerating its adoption of ESG aspects within its operations and has set a target to operate on 100% green energy by 2025, in line with Malaysia’s commitment to become carbon neutral by 2050.
“In addition to climate impact, our sustainability agenda also focuses on diversity, inclusion and well-being of our workforce, community investment, responsible investment, digitalisation and good business conduct.
“We look forward to the capacity building and networking opportunities from this collaboration with UN Global Compact, which will serve as the impetus for us to further advance our contribution towards the UN Sustainable Development Goals,” Chay said.
Responding to the UN Global Compact’s 10th Principle which emphasises the need for businesses to work against corruption in all forms, Kenanga recently completed its fifth annual flagship fraud awareness campaign that was graced by Tan Sri Azam Baki, the Chief Commissioner of Malaysian Anti-Corruption Commission (MACC) and Dato’ Sri Akhbar Satar, President of the Malaysian Association of Certified Fraud Examiners (MACFE).
The programme was attended by 500 delegates from various regulatory bodies, professional bodies and public listed companies, in a move to promote the fight against fraud, bribery and corruption.